Wealth Quarterback LLC Raises Stock Holdings in Coterra Energy Inc. $CTRA

Wealth Quarterback LLC boosted its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 14.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 36,437 shares of the company’s stock after acquiring an additional 4,651 shares during the quarter. Wealth Quarterback LLC’s holdings in Coterra Energy were worth $925,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Coterra Energy by 4.3% in the first quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company’s stock valued at $2,668,559,000 after acquiring an additional 3,818,700 shares during the period. Wellington Management Group LLP increased its holdings in Coterra Energy by 15.3% during the 1st quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company’s stock valued at $2,416,939,000 after purchasing an additional 11,102,350 shares during the period. Charles Schwab Investment Management Inc. raised its position in Coterra Energy by 7.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 25,304,940 shares of the company’s stock valued at $731,313,000 after purchasing an additional 1,837,614 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Coterra Energy by 5.7% in the 1st quarter. Victory Capital Management Inc. now owns 18,828,688 shares of the company’s stock worth $544,149,000 after buying an additional 1,019,995 shares during the period. Finally, Invesco Ltd. grew its position in shares of Coterra Energy by 1.2% in the 1st quarter. Invesco Ltd. now owns 12,384,728 shares of the company’s stock worth $357,919,000 after buying an additional 152,244 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of NYSE CTRA opened at $26.78 on Wednesday. Coterra Energy Inc. has a 12-month low of $22.33 and a 12-month high of $29.95. The firm has a market capitalization of $20.39 billion, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 0.36 and a beta of 0.30. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average of $24.00 and a 200 day moving average of $24.46.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The business had revenue of $558.00 million for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the prior year, the business earned $0.32 EPS. The company’s revenue was up 33.7% compared to the same quarter last year. On average, research analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Thursday, November 13th. Coterra Energy’s payout ratio is currently 40.55%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CTRA shares. Wolfe Research decreased their target price on Coterra Energy from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Tuesday, November 4th. Zacks Research downgraded Coterra Energy from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Raymond James Financial lowered their price target on shares of Coterra Energy from $34.00 to $28.00 in a research report on Tuesday, October 28th. The Goldman Sachs Group dropped their target price on Coterra Energy from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, October 15th. Finally, Wells Fargo & Company increased their target price on Coterra Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Seventeen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.43.

About Coterra Energy

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company’s properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.